By Dave Smith, The Ultimate Retirement Coach
A great retirement isn’t about following someone else’s version of success—it’s about designing a life that reflects what truly matters to you. Whether that’s traveling the world, volunteering for causes close to your heart, or being the grandparent who shows up with lunch every Wednesday, the key is creating goals that align with your values and lifestyle.
Happiness in retirement isn’t a single destination. It’s the byproduct of living each day in a way that feels purposeful and congruent with who you are.
Are your retirement goals built on a foundation that reflects what’s truly important to you—or are they based on what you think you should want?
Let’s break it down into a simple framework for setting yourself up for success in retirement:
Start by defining the cost of your base great life—the essentials that give you comfort, security, and joy. This might include your home, healthcare, and everyday activities that make life fulfilling.
Once your foundation is clear, layer in the fun stuff. Think of these as negotiable wants—things that enrich your experience but aren’t core to your stability. Examples include travel during your early “go-go” years or a home renovation fund.
Low-Stakes Goals: These are flexible, year-by-year decisions that give you freedom to adjust. For instance, setting a $50,000 annual travel budget. At year’s end, you can evaluate—did it feel right, or do you want to tweak it? These goals help you stay adaptable without long-term regret.
High-Stakes Goals: These involve major, often irreversible decisions—like buying a million-dollar home or making a $500,000 charitable gift. These should form part of your plan’s foundation because they’re not easily undone.
Designing your retirement goals with this balance of structure and flexibility allows for discovery, joy, and peace of mind. You’ll not only protect your financial health—you’ll also give yourself permission to spend freely on the experiences that matter most, without regret. Click link below for free “Base, Want, Wish” Planning Template.